Pakistan's Federal Board of Revenue (FBR) has refuted suggestions that it has held up duty drawback and sales tax refunds payable to the country's exporters.
In an official statement issued on December 24, the FBR clarified that the allegations, which were made via a series of news items, are groundless. Additionally the statement makes it clear that there is no truth to the idea of a suspension, as reported by the press, of the processing or payment of admissible drawback and refund claims.
The statement adds that in the first five months of the current financial year, an amount of PKR15.45bn (USD195m) has already been paid to exporters as duty drawback and sales tax refunds, as against PKR14.36bn during the corresponding period of the previous year.
The statement also noted that the FBR's universal sales tax e-filing initiative will lead to further improvements in refund claim processing time.
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